This daily chart for Fantom (FTM/USDT) presents a price that is attempting to recover from a previous downtrend. The price action has broken above a descending trendline, which could be an early indication of a change in trend. The Relative Strength Index (RSI) is near the midpoint at 45.08, suggesting that there is neither overbought nor oversold pressure at the moment.
The current price is $0.7455, and it's facing immediate resistance at the $1.0646 level (R2). If the price can sustain above the trendline and push past R2, it might confirm a trend reversal towards the bullish side. There's a notable support at $0.5275 (S2), and maintaining above this level is key for the bulls to hold control.
Traders might look for long positions with a break above R2, setting stop losses just below S2 to manage risk. Should the price fail to hold above the trendline or break below S2, it would signal caution and possibly a resumption of the bearish trend. Watching for increased volume on upward moves would further confirm the bullish momentum.
The current price is $0.7455, and it's facing immediate resistance at the $1.0646 level (R2). If the price can sustain above the trendline and push past R2, it might confirm a trend reversal towards the bullish side. There's a notable support at $0.5275 (S2), and maintaining above this level is key for the bulls to hold control.
Traders might look for long positions with a break above R2, setting stop losses just below S2 to manage risk. Should the price fail to hold above the trendline or break below S2, it would signal caution and possibly a resumption of the bearish trend. Watching for increased volume on upward moves would further confirm the bullish momentum.